PAUL UK Bakes in Healthy Results
The French bakery and patisserie group reported a 12.3% rise in turnover, and a 3% increase in like-for-like sales.
The 128 year old French bakery and café group announced its financial results for the year ended 31 December 2016 with turnover of £32.3m and EBITDA (excluding head office costs and management fees) of £3.2m. The 11 refurbished stores all saw sales uplifts while significant investment was made in the brand's catering and delivery offering with an expansion in their product offering, improved online ordering capabilities and investment in their central bakery.
A new format kiosk was also opened in the City of London, with 2 further stores of this kind planned by year end, along with the refurbishment of 5 further sites.
Jean-Michel Orieux, CEO of PAUL UK said, “The fall in the value of sterling, business rate increases and the absorption of the National Living Wage provide challenging trading conditions. Through the continued refurbishment of our stores, development of our product range and central bakery plus commitment to our team and processes, we are confident PAUL will continue to engage with our customers and perform well”.
Photo credit: richard lee photography
